Monday, March 19, 2012

Mets Close Minority Sales - Repay Debts

The Mets are just a plethora of financial news today. First the settlement of the Picard/Madoff lawsuit and now this...

The real story here is how few of those minority sales are really outside investors..which comes in at exactly one. However, from one sort or another the Mets have generated enough revenue to pay off both their Bank of America and MLB loans.

This should put the Wilpons' immediate financial concerns to bed. What lies ahead should prove to be tricky, particularly if the team struggles to fill the seats this season. The ability to restructure both their Citi Field and SNY debt could still cost the Wilpons the team, but for now they appear to be safe.